Japanese stocks rose in thin trade on Friday, amid the growing prospect that Prime Minister Shinzo Abe would delay by several years a sales tax hike scheduled to go into effect next April.
The Nikkei share average edged up 0.4 percent to 16,834.84 and ended a very light trading week just over half a percent higher.
Abe is considering postponing next year's sales tax increase by several years, government sources told Reuters, due to concerns the move could tip the economy back into deflation.
Hong Kong shares reversed morning losses and closed at a three-week high on Friday, buoyed by hopes that Beijing will soon expand cross-border investment opportunities between Hong Kong and China.
The Hang Seng index rose 0.9 percent to 20,576.77 points, bringing its gains this week to 3.6 percent. The China Enterprises Index gained 0.8 percent to 8,595.28.
Traders said buying interest revived on talk that China will soon approve a long-touted plan to link the Shenzhen and Hong Kong stock markets, while also expanding the Shanghai-Hong Kong connect programme, launched in late 2014.
China stocks ended slightly lower on Friday, capping a sixth straight week of losses for the Shanghai Composite Index, as industrial profit data added to fears that a recent pick-up in the economy is fizzling out.
The Shanghai Composite Index was fractionally lower at 2,821.05 points, and slipped 0.2 percent for the week.
The index has now has lost more than 8 percent since mid-April.
Reference: Reuters
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